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Credit Card and Spending Information
For Students and others new to credit.
By William Moore
Despite all the recent hype regarding students and credit card offers, if you haven’t begun to use credit, it may actually be a good time to check out current credit cards available to you and begin establishing a credit history.
However, proceed with caution. It’s important to keep in mind that regardless of how important a credit score is in today’s financial world, having thousands of dollars of debt to repay after graduation is a bad idea, especially when
you're also paying off student loans and trying to make ends meet on an entry-level salary.
Choosing a credit card
Today's students are presented with a wide array of credit card choices—cards with low annual percentage rates,
cards with no annual fees, rebate cards, and so on. So how do you choose one? Before selecting a card, be sure
you know which credit terms and conditions will apply to the account. The Truth in Lending Act is a federal law that
promotes the informed use of consumer credit by requiring disclosures about its terms and cost, using specific terminology. In short, the Truth in Lending Act allows the student to "shop around."